Jerome Powell, chairman of the U.S. Federal Reserve, pauses while speaking during a press conference following the Federal Open Market Committee (FOMC) meeting in Washington, D.C. (Photographer: Anna Moneymaker/Bloomberg)

U.S. Core Inflation Cools, Bolstering Case for Fed Rate Cut

(Bloomberg) -- A closely watched measure of U.S. inflation trailed forecasts in May, reinforcing the case among investors for the Federal Reserve to cut interest rates.